NEW figures show investments in Spain’s hotel sector reached a record high in 2018. Reflecting the general trend for growth in the property market and economy, the hotels industry received 23.1 per cent more investment last year than in 2017. Data compiled by the Colliers International Firm showed hotels received a total of €4,810 million in 2018, although experts warned growth in 2019 is expected to be more moderate. — Advertisement — Spain’s overall economy continues to expand at a rate of more than 2 per cent per year, and is expected to continue at the same pace until 2021. The trend is in contrast to other countries, including Germany, France, and Italy, and gives Spain the best GDP growth forecast of all the major European economies. As well as boosts to the GDP, Spain’s consumer confidence has also improved, while unemployment is also down, as the national deficit has fallen. Colliers International Firm claim one of the major factors driving improvements in Spain’s economy is tourism. Investment also continues to be a strong sector thanks to low interest rates. Last year’s large rise in hotel investment made Spain the second most popular investment destination in Europe after the United… Read full this story
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